Kenya Deposit Insurance Corporation (KDIC) provides a deposit insurance scheme for customers of member financial institutions in order to provide incentives for sound risk management and generally promote the stability of the financial system in Kenya. Chase Bank was such a member, which suffered a failure, triggering KDIC’s deposit protection role for Chase bank’s customers. KDIC therefore required to reconstruct the core banking database of Chase bank at the time of its closure. The need at hand was therefore for KDIC to reconstruct the core banking application’s database of Chase Bank as at the time of the bank’s closure, and to develop all of Chase bank’s analytics reports relevant to the role of KDIC.
What Cutting Edge Technologies Limited did for KDIC
We were engaged in this project as a sub-contractor and our role was clearly cut, which was to:
- Identify the database technologies used by Chase bank’s core banking application prior to its closure
- Install a database hardware and software infrastructure platform similar to the one used by Chase bank prior to its closure
- Restore the last core banking application database backup taken by Chase bank prior to its closure
- Recover Chase bank’s core banking application database on KDIC hardware platform
- Identify all the relevant analytics reports and statements used by Chase bank while it was in operation
- Identify the analytics and reporting engine used by Chase bank on its core banking application prior to its closure
- Install the analytics and reporting engine on KDIC hardware platform
- Develop the analytics reports and statements required by KDIC exactly as they were when in use by Chase bank
- Train KDIC’s end-users on the use of the interactive analytics reports and statements
We undertook the above tasks and completed them successfully as required. To enhance the analytics user experience, we also developed a small web-based application to provide the menu system as the springboard for accessing the various analytics reports and customer statements. This was an additional service which we added to enhance the Customer Experience (CX) of the users of the analytics reports.